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Home builder sentiment dips slightly in September
Marketwatch ^ | 9.19.11 | Steve Goldstein

Posted on 09/19/2011 10:05:04 AM PDT by Free Vulcan

WASHINGTON (MarketWatch) — Confidence in the market for newly built single-family homes dipped slightly in September to remain in very low territory, according to an index released Monday.

The National Association of Home Builders/Wells Fargo Housing Market Index fell by a point to 14, on a seasonally adjusted index where readings above 50 are considered good. The index, which correlates closely with single-family housing starts, has held between 13 and 16 for the last six months.

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TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: building; construction; delusion; denial; economy; homes; housingbubble; poorstewardship
I think we're going to see another big downturn in the housing market the fall/winter. Pending home sales have dropped off and what little demand that's left has shifted to the rental market. It doesn't look like people are even trying to buy.
1 posted on 09/19/2011 10:05:17 AM PDT by Free Vulcan
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To: Free Vulcan

The US is ten years overbuilt.

We have tens of millions more houses - nice houses at that - than we have families to live in them.

The market has a long way left to fall.

2 posted on 09/19/2011 10:25:15 AM PDT by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
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